IMHO Zac, the problem is that U are not comparing the right things.
It is a human trait that when we look at our blessings, we always compare them to the other-guys' blessings. Who do we pick? Why, of course, the ones who stand out above the crowd on any given day.
Looking less specifically at GPR and FR etc, we might try to compare ECU with the XAU for example. XAU is a basket of silver and gold shares.
On a day when gold was up over 1% and silver was up 4% the XAU was ONLY up
0.8/215 = 0.4% !
ECU (a company mining BOTH gold and silver), traded at bid 1.15 and ask 1.17 at the close...so one could say it was up somewhere between 0.88% and 2.6%
So, ECU actually did fairly well in comparison to the XAU.There clearly were a number of silver and gold stocks that did NOT perform today. U are just comparing with the "special" ones that have already broken out of long-term doldrums.
Maybe a better question to ask is..."Is something leaning on the XAU in general?" As coach implies, there are a lot of momentum players out there who will jump on a breakout and ride it until it explodes. But the majority of mining shares are still caught below the intermediate term resistance...for whatever reason.
It may be just fear, a healthy "show-me" attitude, or it may be some insidious "cartel" of hedge funds and government agents.
Who cares? Sell the performers when they are overbought, and buy more of the underperformers, (or ECU), compounding your gains, and reducing your risk.
All (seaworthy) ships will rise on the incoming tide...(which hasn't fully arrived yet)...!
HUI only breaks out above 580 and XAU above 230. Until then, most silver and gold ships are sailing into the current and a stiff breeze as well.
jmho.
lotus petals,
gildage
